Daily Global Market Update
Gold's Positive Momentum
Gold increased by 0.3% against the dollar in the last trading session. The CCI (Commodity Channel Index) is providing a positive signal, in line with our technical analysis.
Euro Facing Challenges
The Euro-Dollar pair exhibited sideways movement in the last session. The MACD (Moving Average Convergence Divergence) is signaling negatively.
Stable Pound-Dollar Pair
The Pound-Dollar price remained largely unchanged in the last session. The Stochastic indicator is providing a positive signal, indicating potential upward momentum.
Bitcoin's Significant Surge
Bitcoin against the dollar exploded by 2.3% in the last session. The ROC (Rate of Change) indicator is giving a negative signal, hinting at potential upcoming challenges.
Global Financial Headlines
US markets were closed for a holiday, leading to a broadly steady global stock market. Chinese equities experienced a slight fall after the central bank's decision to forgo an expected rate cut. In cryptocurrency news, wallets holding USDC grew by 59% in 2023, despite a decrease in market capitalization. Toyota Motor is set to increase its production to 10.3 million vehicles in 2024, focusing on hybrid vehicles due to strong sales.
Upcoming Economic Highlights
Today's major economic events include:
• US 3-Month and 6-Month Bill Auction at 1530 GMT
• Germany's Harmonized Index of Consumer Prices at 0700 hours GMT
• Eurozone's ECO Meeting at 0700 hours GMT
• UK's Claimant Count Change and ILO Unemployment Rate at 0700 hours GMT
Greenback at Risk
Pound shines as strong data limits room for BoE’s rate cut
Dollar’s recovery proves short lived as fiscal worries prevail
EUR/USD Could Climb as Dollar Faces Mounting Risks
Crypto Climbs Back to January Highs
USDCAD bounce proves unsustainable
ETHUSD Analysis: Be Wary of the Upper Suppression
